The details
Council approved a Letter of Intent with Huntington Properties, a retail developer, for the purchase of 5.7 acres at the southern gateway located on Acuff Lane and SH 26, Assistant City Manager Mark Wood said.
Huntington Properties intends to purchase the property for over $3.1 million to develop commercial buildings, Wood said. The city originally purchased the property in 2021 for $2.5 million.
City officials will work on a purchase-sale agreement with Huntington Properties to bring to council at a later date. Additional details will come in the months ahead, Assistant City Manager Adrienne Lothery said.
In other news
Mayor Pro Tem Brandi Elder gave an update on what can be expected for the luxury resort hotel planned at SH 26 and John McCain Road during the same meeting.
NuCiti Capital Partners, a real estate development firm, purchased the land in August and now has updated plans for the development, Elder said.
The developer plans to include 140 hotel rooms and 18 casitas, which is down from 23 casitas that were originally planned, Elder said.
“The feasibility study showed that the development could support a hotel in the upscale category,” she said.
In addition, the developer plans to include a 10,000 square-foot conference center, a parking deck, an indoor steakhouse restaurant independent from the hotel and a Tex Mex restaurant in the retail area, she said.
City officials anticipate a formal zoning change to occur in the next 60-90 days, which will include public meetings.
